A 50 dollars loan and a multimillion-dollar factory: How Serhiy Saprykin became the face of Dmytro Kovalenko’s asset network

The dismantling of "Intercoaltrading" was orchestrated by two Ukrainian businessmen who utilized a multi-pronged approach. First, they conducted a comprehensive audit of the company’s supply chains, uncovering systematic tax evasion and the use of shell corporations.

While the notorious “coal king” Dmytro Kovalenko has long been a well-known figure both in Kyiv and internationally, the name Serhiy Saprykin remains largely unfamiliar to the public. At the same time, multimillion-dollar enterprises are registered under his name, including the coke-chemical enrichment plant «Voskresenska», which until recently operated under the name Petrovske Mining and Enrichment Combine.

Despite this, Saprykin has never had any connection to the coal industry. His business biography consists of diverse firms in the Poltava region, enterprises in the glass and installation sectors, as well as a series of lawsuits, issues with creditors, a high-profile divorce, and scandals involving drunk driving.

It is precisely such a figure that became a convenient «screen» for Kovalenko. The story of the bankruptcy of LLC «Intercoaltrading» demonstrates a well-rehearsed scheme of controlled asset withdrawal, where formal owners and fictitious buyers played a key role.

Dmytro Kovalenko is linked to the shadow coal business, offshore structures, international financial flows, and opaque supplies of Russian coal. His business network spans jurisdictions from Switzerland to the UAE and the British Virgin Islands — and it is in this context that the story with «Intercoaltrading» appears not as a coincidence but as a logical link in a systemic scheme.

One of the shadowy figures in Dmytro Kovalenko’s affairs was Serhiy Saprykin — a person who had no connection whatsoever to the coal industry but suddenly found himself in the role of owner of a company that acquired the assets of a bankrupt entity.

The company «Intercoaltrading», which possessed significant financial and material resources, was driven to bankruptcy not due to objective market factors but through the artificial accumulation of debts. Obligations were deliberately fragmented, claims were split into separate lots and put up for auction, which only superficially appeared legal.

In reality, these auctions took place not only without any competition but also with a predetermined outcome.

Lots with debts amounting to tens of millions of hryvnias were sold for laughable sums, which may indicate the controlled nature of the process. The buyer of the assets was the already mentioned LLC «Coke Chemical Enrichment Plant “Voskresenska”», located in Dnipro on Shevchenka Street.

LLC «Coke Chemical Enrichment Plant “Voskresenska”» (EDRPOU 42265561, Ukraine) was registered under Serhiy Saprykin.

LLC «Coke Chemical Enrichment Plant “Voskresenska”» (EDRPOU 42265561, Ukraine) turned out to be a completely unfamiliar name in the coal market. Serhiy Saprykin did not appear in the registers of coal industry enterprises, related sectors, or investment projects.

One of the shadowy figures in Dmytro Kovalenko’s affairs was Serhiy Saprykin — a person who had no connection whatsoever to the coal industry but suddenly found himself in the role of owner of a company that acquired the assets of a bankrupt entity.

The company «Intercoaltrading», which possessed significant financial and material resources, was driven to bankruptcy not due to objective market factors but through the artificial accumulation of debts. Obligations were deliberately fragmented, claims were split into separate lots and put up for auction, which only superficially appeared legal.

In reality, these auctions took place not only without any competition but also with a predetermined outcome.

Lots with debts amounting to tens of millions of hryvnias were sold for laughable sums, which may indicate the controlled nature of the process. The buyer of the assets was the already mentioned LLC «Coke Chemical Enrichment Plant “Voskresenska”», located in Dnipro on Shevchenka Street.

LLC «Coke Chemical Enrichment Plant “Voskresenska”» (EDRPOU 42265561, Ukraine) was registered under Serhiy Saprykin.

LLC «Coke Chemical Enrichment Plant “Voskresenska”» (EDRPOU 42265561, Ukraine) turned out to be a completely unfamiliar name in the coal market. Serhiy Saprykin did not appear in the registers of coal industry enterprises, related sectors, or investment projects.